MANILA, Philippines—(UPDATE) Visiting Swiss President Pascual Couchepin assured the Philippines of his government's continuing support to recover assets of the late dictator Ferdinand Marcos' in his country as he urged the immediate passage of a law to compensate victims of human rights violations under strongman rule.

Couchepin, his wife Brigette, and several officials are here on a three-day state visit. They were formally welcomed by President Gloria Macapagal-Arroyo in Malacañang Monday.

The two leaders held bilateral talks before attending a state luncheon for the visiting head of state.

"The Philippines and Switzerland share a strong commitment to peace, freedom and democracy," Arroyo said in a speech at the luncheon.

In an interview, Executive Secretary Eduardo Ermita said the two leaders discussed "general subject matters" such as free trade and the World Trade Organization.

In a joint statement, the two presidents "expressed satisfaction over the past close and successful cooperation on the restitution of the Marcos assets from Switzerland to the Philippines following the final ruling by the Swiss Federal Court in 1998."

The statement said Arroyo appraised Couchepin on the status of the bill on the Compensation to the Victims of Human Rights Violations, now on its third and final reading in the House of the Representatives.

"President Couchepin conveyed the firm expectation of the Swiss government that the Philippine Congress may soon enact the Human Rights Compensation bill. President Couchepin also assured President Arroyo of the continuing support for Philippine authorities in recovering Marcos assets in Switzerland and in third countries" the statement said.

Marcos ruled the Philippines, much of it under martial law, for 20 years until he was toppled in a popular revolt in 1986. He amassed billions of dollars through corruption and stashed much of it abroad, including in Swiss banks.

After Marcos was overthrown, Switzerland froze the assets and 683 million dollars in Marcos accounts were later transferred to the Philippines.

However, the release of the money as compensation has been complicated by competing claims from different groups.

In her speech, Arroyo also acknowledged the presence of 60 Swiss companies operating in the Philippines and thanked the Swiss government for taking care of the 10,000 Filipinos working either as United Nations professionals or health care professionals.

Couchepin is scheduled to hold a working breakfast with chief executive officers of Swiss multinational companies with several Cabinet officials.

He will also visit the Asian Development Bank and the International Rice Research Institute in Laguna. With Agence France-Presse